Cox Enterprises Inc.

Average New-Car Prices Up 3 Percent Year-Over-Year; Tesla Now Driving Industry Numbers in Meaningful Way According to Kelley Blue Book

Nov 1, 2018

IRVINE, Calif., Nov. 1, 2018 /PRNewswire/ -- The analysts at Kelley Blue Book today reported the estimated average transaction price for light vehicles in the United States was $37,007 in October 2018. New-vehicle prices increased by $1,118 (up 3.1 percent) from October 2017, while remaining flat (down 0.2 percent) from last month.   

Kelley Blue Book Logo. (PRNewsFoto/Kelley Blue Book)

"October was a strong month for transaction prices, as the new-car average rose 3 percent," said Tim Fleming, analyst for Kelley Blue Book. "However, much of the growth was aligned to higher priced vehicles like full-size trucks and SUVs. In addition, Tesla is now driving the industry numbers up in a meaningful way, as the brand's sales volume recently soared to the level of top luxury automakers. All segments in the $20,000 to $30,000 price range also showed little-to-no growth, which could be cause for concern considering these segments make up nearly half of the industry's sales totals."

Manufacturer

October
2018

Transaction
Price (Avg.)*

September
2018

Transaction
Price (Avg.)*

October
2
017
Transaction
Price (Avg.)*

Percent
Change
September
2018 to
October  
2018*

Percent
Change
October

2017 to
October

2018*

American Honda (Acura, Honda)

$29,476

$29,648

$28,030

-0.6%

5.2%

Fiat Chrysler (Alfa Romeo, Chrysler, Dodge, Fiat, Jeep, RAM)

$38,668

$38,304

$38,045

0.9%

1.6%

Ford Motor Company (Ford, Lincoln)

$40,434

$40,393

$39,909

0.1%

1.3%

General Motors (Buick, Cadillac, Chevrolet, GMC)

$41,458

$41,446

$40,305

0.0%

2.9%

Hyundai-Kia

$24,806

$24,609

$24,912

0.8%

-0.4%

Nissan North America (Nissan, INFINITI)

$30,401

$30,796

$28,999

-1.3%

4.8%

Subaru

$29,687

$29,789

$28,670

-0.3%

3.5%

Toyota Motor Company (Lexus, Toyota)

$32,992

$33,183

$32,445

-0.6%

1.7%

Volkswagen Group (Audi, Volkswagen, Porsche)

$40,672

$40,367

$41,845

0.8%

-2.8%

Industry

$37,007

$37,100

$35,889

-0.2%

3.1%

*Kelley Blue Book average transaction prices do not include applied consumer incentives

American Honda showed the most year-over-year growth of all automakers, up 5 percent. The Accord continued its impressive gains, posting an 8 percent improvement. A stronger sales mix of the recently refreshed Pilot also helped boost average Honda prices. Acura climbed 3 percent, thanks to the redesigned RDX, which jumped up 10 percent while also growing its market share in the highly competitive small luxury SUV segment.

Nissan North America also had a great month with its nearly 5 percent increase in transaction prices for October 2018. The top-selling Rogue was up 3 percent and the new LEAF climbed 4 percent, helping the Nissan brand rise 4 percent on average. However, the Altima did fall 3 percent, as the current generation sells down prior to the new generation's launch. INFINITI grew its transaction prices by 6 percent, as the redesigned QX50 put up big numbers, jumping 20 percent.

Segment

October
 2018
Transaction Price
(Avg.)*

September
2018
Transaction
Price
(Avg.)*

October
2017
Transaction
Price
(Avg.)*

Percent
Change
September
2018 to
October 
2018*

Percent
Change
October

2017 to
October
2018*

Compact Car

$20,455

$20,441

$20,249

0.1%

1.0%

Compact SUV/Crossover

$28,680

$28,681

$28,495

0.0%

0.6%

Electric Vehicle

$67,469

$70,974

$55,476

-4.9%

21.6%

Entry-level Luxury Car

$42,595

$42,468

$42,569

0.3%

0.1%

Full-size Car

$34,816

$34,548

$34,207

0.8%

1.8%

Full-size Pickup Truck

$48,726

$48,357

$47,484

0.8%

2.6%

Full-Size SUV/Crossover

$62,653

$62,298

$60,910

0.6%

2.9%

High Performance Car

$99,535

$100,061

$99,498

-0.5%

0.0%

High-end Luxury Car

$95,092

$95,947

$96,102

-0.9%

-1.1%

Hybrid/Alternative Energy Car

$27,198

$27,390

$26,535

-0.7%

2.5%

Luxury Car

$56,623

$57,292

$57,926

-1.2%

-2.2%

Luxury Compact SUV/Crossover

$44,967

$45,728

$44,460

-1.7%

1.1%

Luxury Full-size SUV/Crossover

$85,579

$85,363

$84,603

0.3%

1.2%

Luxury Mid-size SUV/Crossover

$55,679

$55,780

$56,653

-0.2%

-1.7%

Mid-size Car

$25,545

$25,542

$25,363

0.0%

0.7%

Mid-size Pickup Truck

$33,171

$33,281

$32,454

-0.3%

2.2%

Mid-size SUV/Crossover

$38,367

$38,420

$37,820

-0.1%

1.4%

Minivan

$35,412

$34,837

$36,195

1.7%

-2.2%

Sports Car

$35,000

$35,360

$34,669

-1.0%

1.0%

Subcompact Car

$16,445

$16,476

$16,107

-0.2%

2.1%

Subcompact SUV/Crossover

$24,252

$24,160

$24,234

0.4%

0.1%

Van

$36,208

$35,925

$34,775

0.8%

4.1%

Grand Total

$37,007

$37,100

$35,889

-0.2%

3.1%

*Kelley Blue Book average transaction prices do not include applied consumer incentives

For more information and news from Kelley Blue Book's KBB.com, visit www.kbb.com/media/, follow us on Twitter at www.twitter.com/kelleybluebook (or @kelleybluebook), like our page on Facebook at www.facebook.com/kbb, follow us on Instagram at https://www.instagram.com/kbb_com/ (or @kbb_com), and get updates on Google+ at https://plus.google.com/+kbb.

About Kelley Blue Book (www.kbb.com)
Founded in 1926, Kelley Blue Book, The Trusted Resource®, is the vehicle valuation and information source trusted and relied upon by both consumers and the automotive industry. Each week the company provides market-reflective values on its top-rated website KBB.com, including its famous Blue Book® Trade-In Values and Kelley Blue Book® Price Advisor tool, which provides a range for what consumers can reasonably expect to pay for a vehicle in their area. Car owners looking to sell immediately can also get a redeemable, transaction-ready offer with Kelley Blue BookSM Instant Cash Offer. The company also provides vehicle pricing and values through various products and services available to car dealers, auto manufacturers, finance and insurance companies, and governmental agencies. Kelley Blue Book is a Cox Automotive brand.

About Cox Automotive
Cox Automotive Inc. makes buying, selling, owning and using cars easier for everyone. The global company's 34,000-plus team members and family of brands, including Autotrader®, Clutch Technologies, Dealer.com®, Dealertrack®, Kelley Blue Book®, Manheim®, NextGear Capital®, VinSolutions®, vAuto® and Xtime®, are passionate about helping millions of car shoppers, 40,000 auto dealer clients across five continents and many others throughout the automotive industry thrive for generations to come. Cox Automotive is a subsidiary of Cox Enterprises Inc., a privately-owned, Atlanta-based company with revenues exceeding $20 billion. www.coxautoinc.com

 

SOURCE Kelley Blue Book

For further information: Media Contacts: Brenna Buehler, 909-225-4643, brenna.buehler@coxautoinc.com OR Nichole Mrasek, 678-429-7627, nichole.mrasek@coxautoinc.com


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